UK says it will not transition EU-Japan trade deal before March 29

LONDON: Britain will not be able to replicate the European Union’s trade deal with Japan before it leaves the bloc on March 29, the government said in a document setting out its progress on transitioning existing agreements.

Britain is seeking to roll over around 40 EU bilateral trade deals ahead of its exit from the bloc in 36 days.

The government is yet to win parliament’s backing for its Brexit deal with Brussels, and if Britain leaves without a deal those bilateral agreements will cease to apply, likely disrupting trade.

“It is the duty of government to produce a highly cautious list of those that may not be in place, in order that businesses and individuals ensure that they are prepared for every eventuality,” it said.

“We are exploring a range of options to ensure continuity of effect for trade agreements if an agreement has not been ratified and brought into force in time for exit day.”

So far, Britain has signed continuity agreements with Switzerland, Chile, the Faroe Islands, Eastern and Southern Africa, Israel and the Palestinian Authority.

Most agreements were listed as “engagement ongoing” but the EU’s Economic Partnership Agreement with Japan, which came into force at the start of this month, was marked with “We will not transition this agreement for exit day”. — Reuters